These are the most recent published average industry prices for tax preparation services in the state of New Jersey as of the date of this blog post. These are not my rates, although I do pay attention to this type of published data when calculating my own pricing. Individual tax returns Most individuals who do […]
This blog post is a reprint and revision of an article originally posted in 2011. The current pandemic underscores that many people, including many of my small business owner clients, do not have access to any type of financial planning document to serve as a basis of strategy, communication and decision-making. I’ve recently decided to […]
Small Business Administration Chief Jovita Carranza tweeted on Friday afternoon that 12,461 crisis response loans were already approved totaling more almost $4 Billion. The problem is, none of the nationwide network of small business accountants I am connected with online knows any small business that has been approved yet. While the aid package was supposed […]
For those employers planning to apply for the Paycheck Protection Program: there are new developments related to this program since yesterday. It seems likely that we will hear more today. The most important change is that late yesterday we learned that the federal funding is not yet available to the lending banks so the banks […]
How does your “To Do List” work? I’d really like to know. Here’s my situation: Since I’m an MS Office platform guy (as most government and law offices are), I keep mine on the much improved “Microsoft To Do” app that is prominently positioned on my phone, iPad and PC. It integrates with other functions […]
The most common question I get this time of year is “Hey Tony, I was wondering how much you charge to do taxes? I usually use TurboTax but …”. In the ‘old days’ at my former firm I used to just politely decline these requests without offering explanation. But over time I realized that I’m […]
Planning the federal income tax treatment for ministers1 must consider several topics that are unique to ministers. Employee status A minister is considered an employee under the common law rules and yet payments for services as a minister are considered income from self employment pursuant to IRC §§ 1402(c ) and 3121(b)(8). This is the […]
Keep it simple: if you primarily provide your labor to someone for pay then you are an employee. If you run a licensed business, with typical business features like a business plan, advertising, business insurance, and pay business taxes then you likely work as an independent contractor. I’m aware that some people are making a […]
For all of my adult life I’ve had more than one address. Occasionally government entities and agencies have launched investigations or made complaints about my address. I suspect this is politically motivated but I have no proof. Those government actions have accelerated lately and I anticipate more aggressive prosecutions in the future. The tension is […]
What if you work in “any trade or business involving the performance of services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, brokerage services, or any trade or business where the principal asset of such trade or business is the reputation or skill of 1 or more of […]